SEI Contact:

Frank Ackerman

Time-frame: 2011

Downscaling the CRED Model: Climate Impacts and Economic Development at the Sub-Regional Level

This project extends and enriches SEI's CRED model of climate and development economics, providing projections of costs, benefits, climate impacts, and investment needs at a sub-regional level. The analysis of global inequality highlighted by CRED's basic results will be extended to include inequalities within major world regions, such as Europe, and South/Southeast Asia.

The results of the project will be policy-oriented analyses, reframing the debate around climate and development to show that the same strategies can be good for both climate stabilization and equitable economic development.

A negotiated settlement covering this range of issues – an idea which Nicholas Stern has referred to as a “new global deal” – is truly a win-win solution, promoting two crucial global objectives at once. CRED shows that established techniques of economic analysis endorse this hopeful conclusion; it counters the common argument that economics requires us to slow down and set less ambitious or comprehensive goals. It is important to bring this perspective to the global policy debate, and to make it relevant to regional and national policy debates as well.